Vietnam Apparel Companies to Share Half of US Anti-dumping Tax

Several Vietnamese apparel exporters have pledged to share 50 per cent of the anti-dumping duty with US importers in case the US Department of Commerce (DOC) imposes the tax on textile and garment imports from Vietnam, state media said.

 

The move aims to cool down US apparel importers’ worries about the risks they may face if Vietnam-made garment shipments are subject to the US punitive tariff, and urge them to sign contracts with Vietnamese partners for the remaining months of 2007, said the Vietnam Textile and Apparel Association (Vitas).

 

The Vietnamese Ministry of Trade has recently announced that from June 22 export licenses (E/L) will no longer be required for the shipments of 14 key garment categories to the US, which have been identified as the most vulnerable to the DOC monitoring system.

 

However, in the first quarter this year, export growth of these categories stateside was modest, at 10-30 per cent. Some of them even saw a decrease.

 

Vietnam has been adopting E/L for the past four months to enable authorities to closely monitor the volumes of exports to the US market and avoid any dumping actions by the US garment markers or the DOC. (Investment Jun 22 p4, Vietnam & World Economy)